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| rev | Admin | (Created page with "'''Solution: C''' During the first redemption period the modified coupon rate is 1000(0.035)/1250 = 2.80% which is larger than the desired yield rate. If redeemed during this period, bond sells at a premium and so the worst case for the buyer is the earliest redemption. The price if called at that time is <math display = "block"> 35a_{\overline{{{20}}}|0.025}+1250(1.025)^{-20}=35(15.5892)+762.84=1308.46\,. </math> During the second redemption period the modified coup...") | Nov 19'23 at 18:46 | +1,078 |